Registered number 207233
Gardner's Trust For The Blind
Report and Unaudited Accounts
For The Year Ended 30 September 2021
Gardners Services Ltd Suite 1, Unit 2, Stansted Courtyard Parsonage Road, Takeley, Essex, CM22 6PU
## Gardner's Trust For The Blind Charity Information
## Trustee
Gardner's Trustee
## Clerk
Elias Poli (resigned 25.03.2021) Simon Poli (appointed 08.03.2021)
## Independent Examiner
Julie Mellowes FCCA UHY Hacker Young Quadrant House 4 Thomas More Square London E1W 1YW
## Bankers
Bank of Scotland 38 St Andrew Square Edinburgh EH2 2YR
Investec Wealth & Investment Ltd 2 Gresham Street London EC2V 7QP
## Investment Advisers & Portfolio Nominee Account Holders
Investec Wealth & Investment Ltd 2 Gresham Street London EC2V 7QP
## Registered Office
Suite 1, Unit 2, Stansted Courtyard Parsonage Road, Takeley, Essex, CM22 6PU
## Registered Charity Number
207233
## Solictors
Bates, Wells & Braithwaite 2-6 Cannon Street London EC4M 6YH
## Organisation & Decision Making
Gardners Services Ltd Suite 1, Unit 2, Stansted Courtyard Parsonage Road, Takeley, Essex, CM22 6PU
1
## Gardner's Trust For The Blind Registered number: Trustee's Report
## 207233
The Trustee presents its report along with the financial statements of Gardner’s Trust for the Blind (“the Charity”) for the year ended 30 September 2021. The financial statements have been prepared in accordance with the accounting policies set out on pages 10-11 and comply with the applicable law.
## Legal Status
The Charity was set up under the Will of Henry Gardner, who died in 1879; it has subsequently benefited from legacies from a variety of other benefactors. The Charity operates under a Trust Deed originally approved by the Court of Chancery in 1882, but which has been modified since on a number of occasions by Schemes approved by the Charity Commissioners, most recently during 2010.
## Trustee and Appointment
The following served as sole Trustee of the Charity during the year:
- Gardner’s Trustee
The following, all being Directors of Gardner's Trustee, served as members of the committee of management of the Charity during the year in that capacity:
The Rt. Hon. the Viscount Gough Dr R. Forster S.C. Jones D.R. Beardsley Dr J.W. Hawkins Dr N.M. Berman M. Burrows (appointed 08.03.2021)
## Risk Management
The Trustee actively reviews the major risks that the Charity faces on a regular basis and believes that sufficient resources to provide for protection against adverse financial and other developments are provided by a combination of:
- Maintenance of financial reserves at a prudent level, with a proportion of the Charity's investments held in relatively low risk investments.
- Periodic review (and the implementation of changes where necessary) of the operational controls that are in place, particularly in relation to investments, banking and the approval and payment of grants and annual grantees.
- When available at acceptable premium rates, insurance on certain classes of risk.
## Investment Powers and Policy
The Trust Deed authorises the Trustee to make and hold investments using the general funds of the Charity.
The Charity’s fundamental investment policy over the long term is to maintain the real value of capital and income; a variety of investments are held to ensure diversification of investment risk. The Trustee agrees detailed investment guidelines with the Investment Manager from time to time and meets regularly to review performance against agreed benchmarks. The investment guidelines are sufficiently flexible to allow the Investment Manager to anticipate and react to changes in market conditions.
2
Gardner's Trust For The Blind Registered number: 207233 Trustee's Report
## Reserves and Reserves Policy
It is the policy of the Trustee to maintain unrestricted funds at a level that equates to a minimum of 24 months' unrestricted expenditure. Such funds have been maintained at this level throughout the year. A transfer of £27,363 has been made to the Income Fund from the Capital Fund. The Income Fund has been set at £220,000, representing the amount the Trustee feels would be prudent to maintain as being 24 months of expenditure. The capital fund held total reserves of £4,233,234 at the year-end (2020: £3,513,362) and meaning that total reserves at the year-end were £4,453,234 (2020: £3,733,362).
## Constitution, Objects and Policies
The Charity is constituted by Trust Deed and its objects are the distribution of its income for the benefit of needy registered blind or partially sighted persons by way of discretionary annual grants, maintenance, educational and training grants and general grants for specific objects to individuals, institutions or organisations.
The Trust’s policies are to maximise its income subject to its constitution and investment policy and to continue to fulfil its objects.
## Organisation and Decision Making
The Trustee delegates the day to day responsibility of achieving the Charity's objectives to the clerk and the staff of Gardners Services Ltd who administer the day to day transactions and maintain the books and statutory records, and the Chairman of the Directors, who makes decisions on grants and pensions. The Directors of the Trustee regularly meet to review these activities and make decisions as to the strategic direction the Charity should take, and communicate this to those responsible for delivery.
## Grant Making Policy
The constitution gives the Trustee the right to give grants to successful applicants having fulfilled all conditions stipulated for such grants. Grants are awarded for a period of two years after which they lapse and the funds returned to the General Fund. All grants are made to blind or partially sighted individuals, or to other organisations or institutions for the blind.
## Trustee Induction and Training
The Charity has appointed Gardner's Trustee as its sole trustee. Gardner's Trustee has a policy to appoint Directors who are familiar with Charity Law. In order to assist in the running of the Charity, documentation has been prepared setting out the constitution, objects and running of the Charity.
3
Gardner's Trust For The Blind Registered number: 207233 Trustee's Report
## Trustee Responsibilities for the Financial Statements
The Trustee is responsible for preparing the Trustee Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the Trustee to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that period. In preparing these financial statements, the Trustee is required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.
The Trustee is responsible for keeping proper records which disclose with reasonable accuracy the financial position of the Charity and enable it to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust Deed. The Trustee is also responsible for safeguarding the Charity's assets and hence for taking reasonable steps for the prevention and detection of fraud and breaches of law and regulations.
Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
## Financial Report and Main Achievements
The Statement of Financial Activities shows total income of £95,886 (2020 - £96,431). Expenditure amounted to £123,249 (2020 - £103,290), of which £26,240 (2020 - £25,133) was spent on administration, professional and audit fees and £77,060 (2020 - £58,923) on help to poor and needy blind and partially sighted people through one-off and annual grants. The Income Fund's deficit for the year was £27,363 (2020 - Deficit £6,859).
The Charity continued to support, on average, 27 quarterly grant recipients at a cost of £17,049 (2020 - £17,517). An annual amount, payable quarterly, is normally payable to such pensioners as long as they continue to meet certain criteria and the Charity has sufficient funds available, but there is no contractual requirement for the Charity to do so.
Net single grants totalling £60,011 (2020 - £41,406) were made during the year to 104 eligible applicants.
4
Gardn•rfs Trust For The Blind
Reglstered number.
207233
Trustee's Report
Publi¢ B¢ndlt Stslem•nt
The Trustee confims U)at rt has referred to Ihe guidance contstned in the Charity Commwion's
general gutdan¢e on Pubir 8er*fft kn revwng the Trusys objectsve5 and in planning fijtttre
aGtivit*.
Gardnefs Trust for Bnd pmmles onff and F&nvK*Jlo wants to m8mb8rs ofthe pU1C in tho
Unlled Klrwdom vtho are regisleRd bllnd Partity sYJhte(I". it does this dIY aTrd.
Mnetimgs, through other charit*s for the blThl Any member of tre pubk satisfying one of these
riterB free to appty and the CWS c(mmitee of managemen( ty those to wthom it de
day-IW authority in respect of smalkr appea4 consxth 41
The Charity works c105ety th other charilies for the blnd and wlh reaniSed a1KNS, such
tocol authorities, gvery effort is made to ensure that applKants are already receiving any statutory
benefts to kh they are entitkn1.
grant bwnd ststutory enliyements do the most go(*J.. for example, tmrds indiwduals
Sen9 up in business. helping meet the costs of hgher edlKaI. or contributiw towards
equipment that will provhle a hvJher quality of .
The Trustee confinns that It has vAth Sectl)n 1715) Ch8rfbes 2011, to due
regard to the Charity CunmissKffl* gw4 guthnce PublG Benefit 'Ch¥ths and Publ
8enefiY.
Thls reportvAs apwovéd ty the LKwrd ¢Ifvcc*k/lo21 and *ned ty its Nder.
The Rt Hon The Vi
On behalf ofthe Ward of Gard$ Truslee
Trustee
Gardnerfs Trust For The Bllnd
Independent examinerfs report
to the trustee of Gardner's Trust For The Blind
I report to the tnjstee on my examination of the accounts of Gardnerfs TrLL5t for the Blind (the Trusfi for the year ended
30 Soptsmbor 2021. th1¢h are set out on pages 7 to 18.
R•sponslbllltlos and basls of r•port
As the charity trustee of Ihe Trust you are r85ponsknk (Dr th8 preparation of ts accounts in aco)rdance Wth the
requirements of the Charityes Act 2011 Ilhe Aca'l.
l pOrt In rtspèet of my examination ol the TnBt89's *¢ounts carried out uThYer section 145 ol the 2011 Act and in
carrying out my examinatron I have foMcM*d the applicable Dir8cts"ons gIn by Ihe Charity Commiswon under section
1451Sllbl of the 2011 Act.
Indep•ndent examlnerfs $tatement
I have completed my èxaminabon. l eonfimi that no matéiial matter5 have to my attention sn ojnnection with the
examination giving me cause to bel*%t that in any materid respett.
111 accounting records were not kept in re¥ect of the Trust as reqltired by seclion 130 of the Art or
121 the accounts do not accord those records." or
131 the accounts do not cornpfy with the applicab wuirernents o)ncernipg the form and content of accounts set Oul Sn
the Chantiès (Accounts and Reports) Ragulats"ons 2QX)8 olher than any requirernent thal the acc#)unts give a true fair
i* vthich is not a matter Coro*le as part of an examination.
I hav8 no concems and have coma across rKJ Othw mattors in connaction wth th8 examination to vthith attenb'on should
be drawrtr in this report in ordgr to a prrw uTrJerslandiry ofthe accwnts to be ieathed.
Juli8 Mell(yw85 FCCA
UHY Hacker Young
Qua¢Jrant Htyjse
4 Thornas More Squ
London
E1W1YW
Date. C &21
## Gardner's Trust For The Blind Statement of Financial Activities for the year ended 30 September 2021
|Income
Investment income
Interest on deposit accounts
Total income
Expenditure
Managing funds
Charitable activities (Notes 8 and 9)
Total expenditure
Reconciliation of funds
Total funds brought forward
Total funds carried forward
Net deficit for the year
Gain/(loss) on investments (note 3)
Net movement in funds
Transfer between funds|2021
£
Unrestricted
Income
Fund
95,736
150
95,886
19,949
103,300
123,249
(27,363)
27,363
-
-
220,000
220,000|2021
£
Unrestricted
Capital
Fund
-
-
-
-
-
-
-
(27,363)
747,235
719,872
3,513,362
4,233,234|2021
£
Unrestricted
Total
Funds
95,736
150
95,886
19,949
103,300
123,249
(27,363)
-
747,235
719,872
3,733,362
4,453,234|2020
£
Unrestricted
Total
Funds
95,671
760
96,431
18,084
85,206
103,290
(6,859)
-
(319,847)
(326,706)
4,060,068
3,733,362|
|---|---|---|---|---|
There were no recognised gains or losses for 2020 or 2021 other than those included in the statement of financial activities.
None of the Charity's activities were acquired or discontinued in the above two financial years.
7
Gardn$ Trust For The Bllnd
Registered number.
Balance Sheet
as at 30 Seplembor 2021
207233
2020
Flxed assets
Investh)ents
4,260,485
3.597.956
Debtors
Cash * bank
4.291
201.278
205.567
141.543
141.635
Credltorn: •mounts f•lllng du•
wlthln one y•ar
{12.798)
16,229)
N•t¢un•nl a•Mts
1W2.769
135.4L
4.453,234
3.733.382
Unrestrled capital fund
4,233,234
3,513,362
13
4.453,234
3,733,362
arxxjunts were approbTd by the board 20 zl sgn&J on its behalf.
The Rt Hon The
On behawof the boafd
Trustee
rdnerfs Twstee
## Gardner's Trust For The Blind Statement of Cash Flows
for the year ended 30 September 2021
|Operating activities
Surplus/(deficit) for the financial year
Adjustments for:
(Gain)/Loss on Investments
Investment Income
Dividend Income
Increase in Debtors
Iincrease/(Decrease) in Creditors
Cash used in operating activities
Investing activities
Payments to acquire investments
Proceeds from sale of investments
Investment Income
Dividend Income
Cash generated by/(used in) investing activities
Net cash generated/(used)
Cash used in operating activities
Cash generated by/(used in) investing activities
Net cash generated/(used)
Cash and cash equivalents at 1 October
Cash and cash equivalents at 30 September
Cash and cash equivalents comprise:
Cash at bank|2021
£
719,872
(747,235)
(150)
(95,736)
(4,199)
6,569
(120,879)
(141,518)
226,244
150
95,736
180,612
(120,879)
180,612
59,733
141,543
201,276
201,276
201,276|2020
£
(326,706)
319,847
(760)
(95,671)
(45)
(5,202)
(108,537)
(1,341,684)
1,188,468
760
95,671
(56,785)
(108,537)
(56,785)
(165,322)
306,865
141,543
141,543
141,543|
|---|---|---|
9
Gardner's Trust For The Blind Notes to the Accounts for the year ended 30 September 2021
## 1 Accounting policies
## a) Statutory Information
Gardner's Trust for the Blind is a charity, domiciled in England and Wales, registration number 207233. The registered office is Suite 1, Unit 2, Stansted Courtyard, Parsonage Road, Takeley, Essex CM22 6PU.
## b) Basis of Preparation
The financial statements have been prepared in accordance with the charity's trust deed, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".
Gardner's Trust for the Blind meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
The Trustee considers that there are no material uncertainties about the Charity's ability to continue as a going concern.
## c) Investment Income
Investment income is credited to the Statement of Financial Activities when the Charity has entitlement to the resources and to the extent that the resources will be received.
## d) Charitable Activities
Grants payable are accounted for on the accruals basis when approved by the Trustee. Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the Charity to the expenditure. Grants payable are payments made to third parties in the furtherance of the charitable objectives of the Charity. The grants are charged in the year when formally awarded by the Charity and communicated to the recipient irrespective of the period covered by the grant as they are regarded by the Trustee as financial obligations. Annual grants payable to beneficiaries are on a quarterly basis and reviewed annually by the Trustee. The annual grants are at the discretion of the Trustee and therefore are provided as they accrue.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the Charity and costs linked to the management of the Charity. These costs are allocated against charitable activities.
## e) Investments
Investments are stated at fair value at the balance sheet date. The Statement of Financial Activities includes the net gains and losses arising on revaluations and disposals throughout the year.
10
## Gardner's Trust For The Blind Notes to the Accounts for the year ended 30 September 2021
## f) Fund Accounting
Capital Fund
This represents the original capital of the Charity and accumulated growth. There are no restrictions to its use, and the Trustee tries to maintain this at a level which will generate sufficient income to cover annual expenditure.
Income Fund (formerly General Fund)
This represents accumulated income over the years, less annual expenditure. The fund is primarily used to meet the annual expenditure and generate further income. The management committee consider it appropriate to maintain an income fund to provide reserves amounting to approximately 2 years of aggregate anticipated expenditure (comprising grant and annual grant awards and administrative expenses). This level takes into account the possibilities of variances in investment income; an unexpected financial loss; any exceptional calls for grants; and operational losses not covered by insurance. The level of the Income Fund is adjusted principally through increasing and decreasing the level of grants. At 30th September 2021 the Income Fund of £220,000, represented 2 years of aggregate expenditure ending on that date.
## g) Voluntary Income
Voluntary income is recognised where there is entitlement, certainty or receipt and the amount can be measured with sufficient reliability.
## 2 Income from activities
The income from dividends and interest which arose wholly within the United Kingdom, and the surplus, are wholly attributable to the welfare of the blind, less governance costs.
## 3 Investments
|undertakings
£
Market valuation
At 1 October 2020
-
Additions
-
Realised gain on investments
Unrealised gain/(loss) on investments
Disposal proceeds
-
At 30 September 2021
-|2021
£
3,597,956
141,518
46,564
700,671
(226,244)
4,260,465|2020
£
3,764,587
1,341,684
63,871
(383,718)
(1,188,468)
3,597,956|
|---|---|---|
Full details of the investments are given in note 16.
11
## Gardner's Trust For The Blind Notes to the Accounts
## for the year ended 30 September 2021
|4
Debtors
Accrued income
Other debtors
5
Creditors: amounts falling due within one year
Sundry creditors
Grants awarded
6
Unrestricted capital fund
At 1 October 2020
Gain/(loss) on investments
Transfer to income fund
At 30 September 2021
7
Unrestricted income fund
At 1 October 2020
Net deficit for the year
Transfer from capital fund
At 30 September 2021
8
Expenditure on charitable activities 2021
£
Activities
Undertaken
Directly
Donations
-
Grants Awarded (Note 11)
-
Annual Grants Awarded
-
-|£
Grant Giving
Activities
-
60,011
17,049
77,060|2021
£
2
4,289
4,291
2021
£
1,820
10,978
12,798
2021
£
3,513,362
747,235
(27,363)
4,233,234
2021
£
220,000
(27,363)
27,363
220,000
£
Support
Costs
-
20,179
6,061
26,240|2020
£
2
90
92
2020
£
1,800
4,429
6,229
2020
£
3,840,068
(319,847)
(6,859)
3,513,362
2020
£
220,000
(6,859)
6,859
220,000
2021
£
Total
-
80,190
23,110
103,300|
|---|---|---|---|
12
## Gardner's Trust For The Blind Notes to the Accounts
for the year ended 30 September 2021
|9
Expenditure on charitable activities 2020
£
Activities
Undertaken
Directly
Donations
1,150
Grants Awarded (Note 11)
-
Annual Grants Awarded
-
1,150
10 Analysis of support costs
Gardner’s Trustee Annual Return
Sundry Expenses
Indemnity Insurance
Independent examination fees
Bank Charges
11 Grants awarded
Education & Trade Grants
General Aid Grants
Secretarial Fees & Disbursements|£
Grant Giving
Activities
-
41,406
17,517
58,923|£
Support
Costs
481
17,323
7,329
25,133
2021
£
13
23,760
169
478
1,820
-
26,240
2021
£
8,573
51,438
60,011|2020
£
Total
1,631
58,729
24,846
85,206
2020
£
13
22,680
162
448
1,800
30
25,133
2020
£
3,602
37,804
41,406|
|---|---|---|---|
## 12 Trustees' remuneration and expenses
The Charity has an Officers’ Insurance Policy, on behalf of the Directors of the Trustee, in respect of any damages and legal expenses that may arise as a result of their actions during their periods of office. The premium paid was £478 (2020 - £448). There were no staff other than the Trustee. The Trustee received no remuneration during the year (2020 - £ nil).
13
## Gardner's Trust For The Blind
## Notes to the Accounts
## for the year ended 30 September 2021
## 13 Analysis of net assets between funds
|Investments
Current Assets
Current Liabilities
Total|2021
£
Capital
Account
4,260,465
(27,231)
-
4,233,234|2021
£
Income
Account
-
232,798
(12,798)
220,000|2021
£
Total
4,260,465
205,567
(12,798)
4,453,234|2020
£
Total
3,597,956
141,635
(6,229)
3,733,362|
|---|---|---|---|---|
## 14 Contingent liability
An Unclaimed Balance donation of £1,223 was received from LDJ Solicitors client account, (in the year ended 30th September 2014) which may have to be returned if their client makes a claim for said sum. A further sum of £379 was received from Brighouse Solicitors during the year to 30th September 2017.
## 15 Related party transactions
There were no related party transactions in the year or in 2020.
14
## Gardner's Trust For The Blind Notes to the Accounts
for the year ended 30 September 2021
|16|Investments
iShares S&P 500 Nav Units
15,000
Ishares FTSE100 Isharescore FTSE
Ucits
17,500
UK Government 0.125% I/L 03/2026
60,000
Mercantile Investment TST Plc Ord.
25p
70,000
Threadneedle Investment UK Equity
Income Units
106,814
Blackrock Fund Managers Ltd
European Dynamic Fund Income Units
115,000
Artemis Fund Managers Institutional
Income Units
140,306
Empiric Student Property Ord1p
100,000
iShares Li Plc Core UK Gilts
Institutional Income Units
14,000
City of London Investments Ord. 25p
30,000
10,000
40,000
Maitland Instl Svc MI Twentyfour Am
dynamic
900
iShares Core Corp Bond Ucits EGF
GBP
1,000
Fidelity Special Value Ord GBP0.05p
75,000
Carried forward|£
Cost B/Fwd
118,343
119,565
80,862
73,264
137,323
115,746
122,241
102,089
185,524
119,640
100,968
153,347
145,501
1,574,413|£
Additions
At Cost
-
-
-
-
-
-
-
-
-
39,690
-
-
-
39,690|£
Disposals
At Cost
-
-
-
-
-
-
-
-
-
-
-
-
-
-|2021
£
Cost C/Fwd
118,343
119,565
80,862
73,264
137,323
115,746
122,241
102,089
185,524
159,330
100,968
153,347
145,501
1,614,103|2021
£
Market
value
485,906
121,870
82,903
189,350
205,254
331,948
141,176
89,200
191,677
155,600
103,102
151,420
221,063
2,470,469|2020
£
Market
value
390,188
100,748
81,024
123,550
162,539
247,308
115,177
60,950
206,430
94,725
99,039
155,245
130,950
1,967,873|
|---|---|---|---|---|---|---|---|
15
## Gardner's Trust For The Blind Notes to the Accounts
for the year ended 30 September 2021
|£
Cost B/Fwd
Brought forward
1,574,413
International Public Partnership
84,375 129,188
Schroder Investment Management
300 109,337
Blackrock Fm Ltd Charities UK Bond A
GBP Dis
138,500 181,252
iShares Ii Plc USD Treas Bd 7-10yr
Ucits
15,000 86,529
Diverse Income Tru Ordn GBP0.001
125,000 106,646
Henderson Investments Janus Hend
Instl Hgh Alpha
100,000 48,562
Keystone Inv Tst Ord GBP0.10
50,000 93,151
Franklin Templ/Im UK Smaller Cos W
Acc Nav
30,000 73,723
Rlum Limited RL Sustainable Ldrs Tst
D Inc
40,000 80,744
Henderson Euro Foc Ord GBP0.50
4,000 52,721
Schroder Unit Tst US Smaller Cos Z
Inc
35,000 50,760
Schroder Japan Gwt Ord GBP0.10
25,000 49,463
Ninety One Fd Managers Global
Environment K GBP
50,000 50,794
Carried forward
2,687,283|£
Cost B/Fwd
Brought forward
1,574,413
International Public Partnership
84,375 129,188
Schroder Investment Management
300 109,337
Blackrock Fm Ltd Charities UK Bond A
GBP Dis
138,500 181,252
iShares Ii Plc USD Treas Bd 7-10yr
Ucits
15,000 86,529
Diverse Income Tru Ordn GBP0.001
125,000 106,646
Henderson Investments Janus Hend
Instl Hgh Alpha
100,000 48,562
Keystone Inv Tst Ord GBP0.10
50,000 93,151
Franklin Templ/Im UK Smaller Cos W
Acc Nav
30,000 73,723
Rlum Limited RL Sustainable Ldrs Tst
D Inc
40,000 80,744
Henderson Euro Foc Ord GBP0.50
4,000 52,721
Schroder Unit Tst US Smaller Cos Z
Inc
35,000 50,760
Schroder Japan Gwt Ord GBP0.10
25,000 49,463
Ninety One Fd Managers Global
Environment K GBP
50,000 50,794
Carried forward
2,687,283|£
Additions
At Cost
39,690
-
-
-
-
-
-
-
-
-
-
-
-
-|£
Disposals
At Cost
-
-
-
-
(86,529)
-
-
(93,151)
-
-
-
-
-
-|2021
£
Cost C/Fwd
1,614,103
129,188
109,337
181,252
-
106,646
48,562
-
73,723
80,744
52,721
50,760
49,463
50,794|2021
£
Market
value
2,470,469
137,363
138,319
256,017
-
145,312
142,200
-
121,704
98,680
63,600
62,545
56,750
81,360|2020
£
Market
value
1,967,873
136,181
122,910
272,914
86,213
104,625
122,900
126,500
74,763
82,680
50,400
44,450
44,125
61,655|
|---|---|---|---|---|---|---|
||2,687,283|39,690|(179,680)|2,547,293|3,774,319|3,298,189|
16
## Gardner's Trust For The Blind Notes to the Accounts
for the year ended 30 September 2021
|Brought forward
RIT Cap Partners Ord GBP1
5,000
Schroder Real Estate Ordinarty Shares
NPV
200,000
Sdcl Energy Efficient Ord GBP0.01
50,000
8,333
58,333
The Renewables Inf Ord NPV
64,393
6,439
70,832
Warehouse Reit PLC Ord GBP0.01
-
70,000
70,000
Total|£
Cost B/Fwd
2,687,283
93,701
63,401
55,701
77,272
-
2,977,358|£
Additions
At Cost
39,690
-
-
9,208
7,920
84,700
141,518|£
Disposals
At Cost
(179,680)
-
-
-
-
-
(179,680)|2021
£
Cost C/Fwd
2,547,293
93,701
63,401
64,909
85,192
84,700
2,939,196|2021
£
Market
value
3,774,319
128,875
98,700
66,500
88,611
103,460
4,260,465|2020
£
Market
value
3,298,189
92,750
64,550
54,375
88,092
-
3,597,956|
|---|---|---|---|---|---|---|
17
## Gardner's Trust For The Blind Notes to the Accounts
for the year ended 30 September 2021
|17
Income
Investment income
Interest on deposit accounts
Total income
Expenditure
Managing funds
Charitable activities (Notes 9)
Total expenditure
Reconciliation of funds
Total funds brought forward
Total funds carried forward
Net movement in funds
Comparative statement of financial activities
Net deficit for the year
Transfer between funds
Loss on investments (note 3)|2020
£
Unrestricted
Income
Fund
95,671
760
96,431
18,084
85,206
103,290
(6,859)
6,859
-
-
220,000
220,000|2020
£
Unrestricted
Capital
Fund
-
-
-
-
-
-
-
(6,859)
(319,847)
(326,706)
3,840,068
3,513,362|2020
£
Unrestricted
Total
Funds
95,671
760
96,431
18,084
85,206
103,290
(6,859)
-
(319,847)
(326,706)
4,060,068
3,733,362|
|---|---|---|---|
There were no recognised gains or losses for 2020 other than those included in the statement of financial activities.
None of the Charity's activities were acquired or discontinued in the above financial year.
18